What are capital credits?
The purpose of our Co-op is to provide first-class service at a reasonable price. A portion of the surplus revenue from our telecommunications service is returned to members in the form of a capital credit . It's about investing back into our Co-op and the communities we serve.
In 2023, Co-op members will receive their capital credit payments issued on their Golden West bill or in the form of a mailed check prior to the annual meeting. In line with the Cooperative’s performance, Golden West’s Board of Directors approved the return of $7 million in capital credit payments to cooperative members this year. The capital credit retirement consists of $3.3 million for patronage allocated in 2005, $750,000 for patronage allocated in 2006 and an additional $3 million for allocations generated in 2022. Members with active service during any or all of those years will receive capital credits.
All payments of $75.00 or less are being applied as a bill credit on active member accounts. Retired capital credits will also be applied as a bill credit on all accounts showing a past due balance. Depending on how much is past due, this may result in retired capital credits of over $75.00 being applied as a bill credit.
Payments greater than $75.00 going to active member accounts without a past due balance will be issued as checks and mailed for receipt on or about September 13th. Checks will also be issued and mailed at the same time for any excess retired capital credits totaling more than $75.00 after past due balances have been paid in full.
If you have any questions regarding capital credits, call our office at 1-855-888-7777, option 3.